Stocks that make the biggest moves in the market: Kellogg, Lennar, Spirit Airlines and others

Stocks that make the biggest moves in the market: Kellogg, Lennar, Spirit Airlines and others

See companies that write before the bell:

Kellogg (K) – Kellogg jumped 8.1% in pre-sales trading after announcing plans to split into three separate public companies. One entity will consist of a business with snacks and international cereals, another in the U.S. with cereals, and a third will be a plant food producer.

Lennar (LEN) – The house builder reported an adjusted quarterly profit of $ 4.69 per share, exceeding the consensus estimate of $ 3.96, with income that also exceeded forecasts. However, the company said that at the end of the quarter, it began to notice the impact of higher interest rates and rapid growth in house prices.

Spirit Airlines (SAVE) – Spirit strengthened 8.1% in pre-sale trading after JetBlue (JBLU) increased its takeover bid for Spirit by $ 2 to $ 33.50 per share. Spirit plans to decide by the end of the month whether to stick to its merger agreement with Frontier Group (ULCC) or to accept JetBlue’s offer. JetBlue rose 1.6%.

Mondelez (MDLZ) – Mondelez buys energy tile manufacturer Clif Bar & Co. for $ 2.9 billion with possible additional payments depending on financial results. The transaction is expected to close during the third quarter.

Valneva (VALN) – Valneva shares rose 81.8% in the premarket after Pfizer (PFE) agreed to buy an 8.1% stake in French vaccine maker for more than $ 95 million. Pfizer and Valneva are already partners in a joint venture in the development of treatment for Lyme disease.

Tesla (TSLA) – Tesla added 3.2% in the pre-sale action after CEO Elon Musk gave more details about the planned layoffs announced earlier this month. Musk told Bloomberg that the company will reduce employees by about 10% in the next three months, which will result in an overall reduction of about 3.5%.

Twitter (TVTR) – In the same interview with Bloomberg, Musk said that there are still some unresolved issues regarding his agreement to buy Twitter, including information about spam orders and finalizing contract financing. Meanwhile, a new SEC application from Twitter recommends shareholders vote on Musk’s takeover bid of $ 54.20 per share. Twitter added 1.2% in presale.

Ekkon Mobil (KSOM) – Ekkon Mobil was upgraded to “surpass” the “neutral” in Credit Suisse, which indicated Ekkon’s investments in attractive oil and gas projects. Ekkon Mobil added 2.6% in the pre-sale action.

Sunrun (RUN) – Shares of the solar company rose 2.5% in pre-market trading after Goldman said Sunrun remains the best way to invest in solar growth in apartment buildings. Goldman estimates that Sunrun “buys” while lowering the rating of rival SunPover (SPVR) to “selling” from “neutral”. SunPover fell 2.7%.

Charles Schwab (SCHV) – The brokerage firm was promoted to “buy” from “neutral” in UBS, which Schwab called a quality name well isolated from credit and market risk. Schwab jumped 3.3% in pre-market trading.

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